Foreclosure Abuses

The Attorney Generals in all fifty states have been involved in litigation concerning the foreclosure practices at the largest banks in the United States. When these investigations by the State Attorney Generals were initially announced, homeowners who had been defrauded and abused by financial institutions they placed trust in were expecting justice.

Settlement Proposal

There has recently been a settlement proposal made to America’s largest banks. The Republicans in the United States Senate and House of Representatives feel that the Attorney Generals are asking much too much from the banks. The proposal includes needed reforms. It would require financial institutions and banks to stop foreclosure proceedings while a loan modification is pending. It will also be necessary for the financial institutions to eliminate red tape, simplify the loan modification process, properly fund it and speed it up.

The purpose of this settlement proposal is to shield the financial institutions from future lawsuits involving illegal, improper mortgage and foreclosure practices. Although it is a good idea to have one global settlement with the financial institutions, the settlement should not be too generous. Banks have been involved in numerous improper mortgage and foreclosure practices. They have filed false court documents to speed up foreclosures. They have utilized robo-document signers. They have brought foreclosure proceedings when mortgages have been paid. They have charged excessive fees. They have not provided loan modifications pursuant to the federal loan modification programs. They have had conflicts of interest and they have favored foreclosures over loan modifications.

Bank Misbehavior

Banks have gotten away with bad behavior, which has victimized consumers for much too long. The foreclosure crisis in the United States was caused by greed on behalf of the banks! A settlement concerning the foreclosure abuse by financial institutions should be of a nature as to reform the banking industry regarding mortgage modifications, mortgage and foreclosure practices and rectify the bad past practices.

Foreclosure Defense for New Yorkers

We provide foreclosure defense for New Yorkers. We assist New Yorkers with mortgage modifications and mortgage modifications programs that fail. We file Chapter 7 and Chapter 13 bankruptcies on behalf of our clients. We explain why bankruptcies should be filed to our clients. We deal with re-establishing credit when necessary. We can stop foreclosures from moving forward. We attend foreclosure conferences in the state courts in New York for our clients. We provide foreclosure defense and litigate defective foreclosure lawsuits, predatory lending, real estate issues, bad faith by financial institutions and defective mortgages. We maintain a foreclosure blog which is updated on a weekly basis. Call us should you have foreclosure or bankruptcy problems. We can help you!

New York Law Grants Homeowners Attorneys’ Fees in Foreclosures

If you get sued by your bank in a foreclosure proceeding they always ask for attorneys fees. If the bank is successful in the foreclosure proceeding their attorneys get awarded attorneys fees. Theses attorneys fees can be substantial involving many thousands of dollars.

Up until now if a homeowner is successful in defending a foreclosure proceeding he or she get stuck paying his/her attorneys fees. However, David Patterson, the Governor of the State of New York has come to homeowners rescue.

Banks Pay Homeowners Attorneys Fees

Under a new law passed by the state legislature and signed by Governor David Patterson homeowners in foreclosure proceedings can claim  attorneys fees from  lenders. The law titled the Access to Justice in Lending Act will allow homeowners to be on the some footing as financial institutions in foreclosure proceedings. Homeowners will be entitled  to recoup all of their attorneys fees in the event they are successful against their mortgage lenders. It  is hoped that the potential of homeowners collecting attorneys fees from their financial institutions will motivate the financial  institutions to be more cooperative with regard to working out loan modification agreements with their mortgage holders.

The law  was originally opposed by the State Bankers Association.  Organizations representing  homeowners were extremely enthusiastic about the new bill. The homeowners  associations argued that the proposal would allow more homeowners to obtain legal  representation and motivate lenders to amicably resolve foreclosure proceedings.

The statute is modeled on New York Real Property Actions Proceedings Law section 234. This give tenants the right to obtain attorneys fees from landlords when landlords had a provision in their lease agreements giving them attorneys fees in eviction proceedings against tenants.

About Our Firm

For more than 30 years our law firm has assisted individuals with mortgage modifications, foreclosure defense and lawsuits involving creditors. We have expertise in defending homeowners in foreclosure lawsuits. We have litigated cases involving predatory lending practices. We are also familiar with the issues involving failed mortgage modification programs. Should you, a friend or family  member be involved  in a foreclosure. You need a foreclosure defense attorney to represent you. Our experience in representing  individuals in all aspects of foreclosure  defense including but not limited to foreclosure defenses and litigating foreclosure issues makes us one of the foremost foreclosure defense law  firms in the metropolitan New York area. Feel  free to call us for a free consultation at 516-561-6645, 718-350-2802 or 1-800-344-6431. We are available 7 days a week.

Foreclosure Defense in Valley Stream, Lynbrook, Baldwin, Malverne, Freeport, Oceanside, Long Beach, Elmont, Lakeview, West Hempstead, Hempstead, Merrick and Bellmore, New York

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We represent individuals throughout the New York Metropolitan area with divorce and child custody, personal injury, car accident, wrongful death, estate administration, nursing home and medicaid issues

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